Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!

The plant will operate with GE’s 7F gas turbine technology, with support of a long-term GE maintenance services agreement.

GE Energy Financial Services served as the administrative agent, bookrunner and through GE Capital Markets, Inc. as primary lead arranger of the senior secured credit facilities. GE Energy Financial Services, ING Capital LLC and Siemens Financial Services, Inc. are providing construction and term loans for the plant, under construction in Rock Falls, about 120 miles west of Chicago. ING Capital LLC served as joint lead arranger and documentation agent. Financial details were not disclosed.

Invenergy Development Company LLC, a joint venture between an affiliate of Invenergy LLC and investment firm Stark Investments, is building the plant and plans to begin commercial operations to sell power into the PJM wholesale market in early 2015. Invenergy Services LLC, an affiliate of Invenergy LLC, will operate and maintain the plant.

GE Energy Financial Services has made equity or debt investments in several Invenergy LLC power generation projects. Overall, GE Energy Financial Services holds equity and debt investments in power projects with a combined capacity of 30 gigawatts, equivalent to the installed generating capacity of Norway.

In addition to two GE gas turbines, the plant will use two GE A10 steam turbines. Invenergy LLC has entered into a Site Change Agreement with GE to modify turbine and control systems. For example, GE is upgrading the units with GE’s Mark• VIe software controls technology, which improves operational performance.

Invenergy LLC also has entered into a Contractual Services Agreement with GE, to provide long-term maintenance and engineering services for the plant’s GE equipment. GE will install OpFlex• model-based controls software, which automates operational adjustments to improve performance and availability to generate power.

GE’s Contractual Services Agreements help customers predict maintenance costs while ensuring high availability and steady revenue. Invenergy will benefit from GE’s latest technology, local resources and global experience. GE has long-term service agreements at more than 700 sites worldwide.

*Trademark of General Electric Company.

About GE Energy Financial Services
GE Energy Financial Services GE’s energy investing business (geenergyfinancialservices.com) works as a builder, not just a banker, to help meet the world’s power and fuel needs. We offer more than money expertise for essential, long-lived and capital-intensive power, oil and gas infrastructure GE’s core business. Drawing on GE’s energy technical know-how, financial strength and risk management, we see value where others don’t and take on our customers’ toughest challenges with flexible equity and debt transaction structures. Based in Stamford, Connecticut, GE Energy Financial Services holds approximately $18 billion in assets. More information: geenergyfinancialservices.com. Follow GE Energy Financial Services on Twitter: [.]GEEnergyFinServ

About GE
GE (ge.com) works on things that matter. The best people and the best technologies taking on the toughest challenges. Finding solutions in energy, health and home, transportation and finance. Building, powering, moving and curing the world. Not just imagining. Doing. GE works.

Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.